In this week's individual investor sentiment survey, bearish sentiment declined 2% points to 33% versus 35% last week. At the same time, bullish sentiment increased 1% to 51%. The bull/bear spread widened to 18% from 15% last week. At prior market highs, the spread has generally been over 30%.
Below is an updated graph of the 8-period moving average of the bullish sentiment data compared against the S&P 500 Index.